In 2017 Jaguar allocated a special scholarship fund for students of the Higher School of Economics, for conducting case-championships, lectures and round table conferences with the participation of the top managers of Russian companies and businessmen are planned. The first lecture with the co-founder of Wikimart (the online supermarket by Maxim Faldin) was held at the university in 2015.
All kind of opportunities are in place. Many of employees began their career at Jaguar Land Rover as trainees. Students have the opportunity to choose the direction of an internship that interests them. The direction may be in marketing, in sales, in after-sales service, in finance or in public relations. We will be happy to share our knowledge and experience with them. And, of course, we are looking forward to the next case championship, which will be held in the fall of the next academic year.
Jaguar considers social and human capital to be the most valuable one. In the local market, non-financial asets are not acknowledged at all. The recognition of goodwill is carried out in accordance with the IFRS standards during the formation of the consolidated financial statements of the group.
Goodwill is measured as the fair value of the assets, passed over for the right of controlling net identifiable assets of the company, minus the fair value of the net identifiable assets of the company. Goodwill is reflected in the balance sheet and does not affect the profit and loss statement. The information on the impact of goodwill on the purchase decision is confidential and is not disclosed.
Companies that are socially responsible are known to show better financial indicators. It is important for any modern company to be socially responsible. A socially responsible business is a business that is fully aware of the importance of its contribution to social development and ecological security. It should seek to maximize efficiency in reducing the negative effects from its activities, and to optimize the positive impact it can have on society. This is a fairly broad concept that requires attention to one's own staff, the development of internal social package and the creation of new jobs, along with concern for the environment, for the development of educational programs and for the support of international charity projects.
People's trust in socially responsible companies is much higher, which results in higher customer loyalty, in attracting new customers, and allows you to actively develop business and, consequently, improves the company's financial performance.
Any truly socially responsible business does charity not only for a short-term gain. Take environmental protection for example. Jaguar Land Rover, being a global international company, follows the principle of "full life-cycle" when designing and building their cars in order to reduce negative impacts on the environment, ranging from working with primary materials to the final disposal of a car. Due to this, complex CO2 emissions were reduced by 25% in comparison with emissions in 2007 for all Jaguar Land Rover cars, presented at the European market.
Jaguar Land Rover is a world leader in development and production of vehicles with aluminum structures. It is also the world's first manufacturer to use a full cycle of recycling aluminum, which significantly reduces the negative impact on the environment throughout the life of the car. The advantages of using aluminum are reduced vehicle weight, lower fuel consumption, lower emissions, increased safety in collisions and even more advanced vehicle dynamics. The same can be said for the new family of 4-cylinder petrol and diesel aluminum engines Ingenium, which have been developed by the company for future models of Jaguar and Land Rover. These engines are characterized by high efficiency and ultra-low emissions.
For many years, Jaguar Land Rover supports the International Red Cross and allocates donations for projects to improve sanitary conditions and to ensure access to drinking water in Uganda and South Sudan. In a similar vein, the company is also working with an international organization ClimateCare.
I would also like to mention our long-term partnership and support from Bon Free Foundation, which is engaged in the rescue and protection of wild animals in the world. This organization's activities extend to many countries: Kenya, Ethiopia, South Africa, India and Sri Lanka. Bon Free is engaged in rescuing lions, moving elephants to safer habitats, protection of young chimps and their adaptation to the real world, caring for large sea turtles and many other things.
Jaguar Land Rover is its sector leader in implementing corporate social responsibility programs, which by 2020 will cover more than 12 million people around the world. During the first phase of implementation of the Global Programme (2013/14), due to cooperation with non-governmental international organizations such as the Red Cross and Climate Care, 1.5 million people were able to get education, access to clean water and other necessary amenities. So, this year, thanks to donations from Climate Care, more than 700 thousand people in western Kenya have access to clean and safe drinking water.
Another striking example is the support of the aforementioned international wildlife protection fund, Born Free. In May this year, we announced the opening of a new reservation for lions and an educational center in the ecological complex Ensessakotteh in Ethiopia.
For Jaguar Land Rover, research and educational programs are of great importance. This year, the company began construction of the National Center for Automotive Innovation on the campus of Warwick University in the UK. The center area of 33,000 m2 scheduled to open in spring 2017 is to become the main platform for the development of future technologies of Jaguar Land Rover. The new center has planned excursions for students and pupils. Our introduction into educational programs is designed to inspire students to start careers in science and technology industries.
In Russia, at this stage, we have identified for ourselves the direction associated with the development of projects in the field of education. That is why, in March 2015, we announced a partnership of Jaguar and the Higher School of Economics.
For many years now, the University has been educating people who are capable of forming a strategy for future development, both on the scale of individual companies and industries, and for the whole country. Students at the Higher School of Economics learn to think outside the box by avoiding standard solutions and thinking laterally. This is the key to success in the modern world, and that is very close to the essence of Jaguar. The desire to change the rules and to find new solutions has been and remains the main driving force behind the legendary British brand.